Thinkorswim Closing UK Accounts

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    Posted: 26 July 2011 11:10 AM

    Hi guys,

    it’s been a while since I last popped in here. I know in the past that a lot of folk on here have used Thinkorswim, so I was wondering whether those of you in the UK that use TOS got the same email I did last night. In essence, TOS (or should we say TD Ameritrade) say they are closing UK based accounts by the 22 Aug. Did any of you get this email?

    Secondly, as I am UK based, I was wondering what other people in the UK are using to trade AAPL. I know Tommo_UK traded CFDs (not sure if he still does) and sleepy geek spread bet. Not sure if those guys have been around here in recent times.

    In the past I used ETrade until I thought they were about to go bust. I think they have also withdrawn their UK offerings.

    So, what are people using? I am leaning towards CFDs, but want a good broker that offers a decent charting package and won’t gouge me on commissions or incredibly bad fills. Any suggestions?

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    Throughout all my years of investing I’ve found that the big money was never made in the buying or the selling. The big money was made in the waiting. ? Jesse Livermore

         
  • Posted: 30 July 2011 06:50 PM #1

    I’ve been wondering what to do myself. As far as I can tell, the situation is absurd. It appears TD Waterhouse has some kind of exclusive deal with Ameritrade, but doesn’t even offer options.  So now TOS belongs to Ameritrade, it’s unavailable in UK and everybody loses.

    The unlimited losses of CFD/spreadbet require constant attention and maybe closing all positions overnight if you’re rational. With options, the MMs watch the Market for you.

         
  • Posted: 31 July 2011 05:56 AM #2

    I’m based in the UK and use IG Markets for trading AAPL CFD’s. I’ve been using them for several years and have no complaints with their service. They have a $15 minimum online commission rate per transaction. The margin for up to 4000 AAPL shares is 5%.

         
  • Posted: 31 July 2011 05:42 PM #3

    Tommo & I used CMC Markets for CFD’s & spreadbet. I haven’t done for a couple of years.